SCHEDULES

SCHEDULE 2REPURCHASE

PART IIDISCHARGE OF CHARGES ON INTEREST

Interpretation

5

In this Part—

a

“interest acquired” means the interest in a defective dwelling of which the vendor disposes under an agreement entered into in pursuance of Article 9;

  • “purchase price” means the price which such an agreement requires the Executive to pay for the interest acquired; and

  • “vendor” means the person with whom the Executive enters into such an agreement; and

b

references to a charge are references to a charge securing the performance of an obligation, and—

i

include a mortgage or lien, but

ii

do not include a rentcharge (that is to say any annual or other periodic sum charged on or issuing out of land, other than rent reserved by a lease or tenancy or any sum payable by way of interest).